Ritholtz: States Slash Budgets While Politicians Debate Austerity vs. Stimulus

The Tea Party is our only hope, and without it we'd be sunk!

states and local govts kinda have to slash spending when they run out of money ... seeing how it is that they can't just print more

Wht is new anbout dumbocrats tax and spend doctrine?

The problem with raising taxes in this depression just adds more
burden to companies and private sector taxpayes who are not getting either pay raises or even social security increases.

The second problem with raising taxes is that politicians see the money and just spend more. They like to say wook what we are giving you.......but they produce nothing and can give us nothing unless they take our money first.

A bigger problem is that the 10% unemployment is really 20% unemployment in the private sector and about 1% unemployment in the government sector. But if they cut government 10% that would really result in about 15% overall unemployment.

Government needs to freeze taxes and cut waste (say about 5%) and use this savings to pay down debt.

To foster an economic recoery we need different economic policies to put more cash in comsumers pockets.A plan to create more jobs in the private sector. A plan to help homeowners in trouble who still have jobs. And economic incentives for companies to bring manufacturing back home.
Plus economic policies to help businesses compete internationally. And to a large extent these could be done without costing taxpayers one dime.
A) Cap interest rates on credit cards at say 12%. This is still 24 times .5% cost of money for credit cards and banks and a heck of a lot of profit. But is would lower credit card bills by about $400 per month for most families.
B) Increase our comodity exports: Coal, Natural Gas, Grains.
C) Homeowners who have jobs and incomes of at least 80% of their previous level should have their mortgages re-written for the current baance at 3% for 35 years. This is a WIN, WIN, WIN.
Banks avoid losing about $130,000 per forclosure, Homers stay in their house. And taxpayers do not get stuck wih the bill.
D) Lower corporate tax rates to 31% from currnt 35% instead of raising them to 41% ala Obama in Jan. 2011. Because at 41% our companies will be paying a 25% higher tax than most companies worldwide.

Austerity only makes people poor ( and the very rich richer).

No jobs, high foreclosures and a high deficit yet the stock market and commodity prices continue to climb. Just what people need higher prices for gas, food and other necessities.

What we are going through is not a recession. We're in a difficult economy (to put it mildly) because we had an economic collapse in 2008. We've come to the end of an era of funny money games and now we've got to find our way out of this without smoke and mirrors. Nobody, not republicans, democrats, citizens and certainly not the banks, has a perfect solution.

He says, "In order to change that, he says, people have to get out and vote!"
Why would we want to change that? Austerity is long overdue. If you don't do it voluntarily it will be forced upon you eventually. That reality has reached individuals, businesses, state and local governments. Time for the federal government get a clue.

Dan needs to learn that as a host, he's suppose to ask the questions not lecture the guest

Am I the only one that can't watch this Dan Gross guy? Starting to hate TechTicker...